HDFC Bank (NYSE:HDB) Insider Ashish Parthasarthy Sells 6,000 Shares of Stock

HDFC Bank Limited (NYSE:HDB) insider Ashish Parthasarthy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the completion of the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HDFC Bank Stock Down 1.3%

NYSE:HDB opened at $26.12 on Thursday. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The firm has a market capitalization of $133.23 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.23 and a beta of 0.67. The stock’s fifty day simple moving average is $28.37 and its 200-day simple moving average is $32.80.

Institutional Investors Weigh In On HDFC Bank

Large investors have recently modified their holdings of the business. Larson Financial Group LLC raised its holdings in shares of HDFC Bank by 90.4% during the third quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock worth $29,000 after acquiring an additional 403 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of HDFC Bank by 54.5% during the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after acquiring an additional 322 shares during the period. Accent Capital Management LLC raised its holdings in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after acquiring an additional 459 shares during the period. Clearstead Advisors LLC raised its holdings in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after acquiring an additional 739 shares during the period. Finally, Bell Investment Advisors Inc raised its holdings in shares of HDFC Bank by 260.9% during the first quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank’s stock worth $34,000 after acquiring an additional 1,002 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HDB has been the topic of several recent research reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, HDFC Bank has a consensus rating of “Reduce”.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).